BYJU’S Creditors asks for a faster repayment of a portion of the $1.2 billion loan

Share via:

A group of BYJU’s creditors has asked the edtech gaint to repay a portion of the $1.2 billion Term B loan it received last year.

As the edtech renegotiated the terms of the debt, the creditors recently bought into the loan. The edtech giant is being urged to use the $850 million in cash reserves of its US unit to pay off some of the debt. Houlihan Lokey Inc. has been hired by the lenders to provide advice on amending the covenants. The edtech giant is looking to restructure its term loan, seeking more lenient terms on the same. BYJU’s losses increased nearly 20X year on year (YoY) to INR 4,588 Cr on a total income of INR 2,428.3 Cr in FY21.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

BYJU’S Creditors asks for a faster repayment of a portion of the $1.2 billion loan

A group of BYJU’s creditors has asked the edtech gaint to repay a portion of the $1.2 billion Term B loan it received last year.

As the edtech renegotiated the terms of the debt, the creditors recently bought into the loan. The edtech giant is being urged to use the $850 million in cash reserves of its US unit to pay off some of the debt. Houlihan Lokey Inc. has been hired by the lenders to provide advice on amending the covenants. The edtech giant is looking to restructure its term loan, seeking more lenient terms on the same. BYJU’s losses increased nearly 20X year on year (YoY) to INR 4,588 Cr on a total income of INR 2,428.3 Cr in FY21.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Airtel Accidental Insurance Bundled 3 Prepaid Plans

Bharti Airtel, India's second-largest telecom operator is offering...

Infosys cofounder Nandan Nilekani on AI commoditisation, data, and...

Infosys cofounder Nandan Nilekani on Saturday said that...

Apple is ‘actively developing’ AirPods with cameras: What to...

According to Bloomberg’s Mark Gurman, Apple is ‘actively...

Popular

Upcoming Events

US to reportedly use AI to revoke visas of...

The US State Department will use artificial intelligence...

US Labor Department investigating Nvidia, Amazon-backed startup Scale AI

The US Department of Labor is investigating Scale...

Infosys cofounder Nandan Nilekani on AI commoditisation, data, and...

Infosys cofounder Nandan Nilekani on Saturday said that...
d.er.sdfdsa d.fesdfrwa.dfa d.er.ssdfdfdsa d.fesdfdfrwa.dfa